Payroll Taxes?

Payroll taxes?  They used to be called Social Security contributions.  Wasn’t it just a few years ago that people were worried about Social Security running out of money, needing to be fixed?  The trust fund would run out by 2037 if changes weren’t made.  Then benefits could be paid at only a three-quarters rate until 2086.  Everyone was in a panic.  Remember?  It's not getting better.  Read the first three paragraphs of the 2011 summary report, which moves those estimates up one year and reinforces the need to do something quickly

None of the proposals to fix Social Security included paying in less.  Ask any third-grader if paying less into a fund makes it bigger - but last year Washington reduced our contributions by 2%. They plan to make up the difference from the general fund, which is already running a deficit.  Now, after one year, to let it lapse becomes “a tax increase,” and they’re fighting over how to avoid it.

The theory is that we will have more money to spend to keep the economy growing.  Ironically, politicians suddenly think that we can spend money better than the government; but if we do spend it and Social Security runs out even sooner, what are we going to do for retirement?  No, the wise move would be to save it - but then it wouldn’t stimulate the economy.  If the plan plays out as intended, it leads to a future with more people unable to retire comfortably because once again we spent money today that was needed for tomorrow.  Is this not insane?  Is this not a pure example of magic-money-tree thinking, expecting tomorrow's bills to be paid out of thin air?

Maybe it’s an admission by Washington that they never intend to fix it.  Then this plan would be favored by younger workers, who already feel like they’re throwing money down a rat hole.  At least now they get to keep some of it.

Bribery of a public official is a felony, but when they do it to us, pay us  to buy our votes (with our own money plus borrowed money that we will eventually have to pay back!), it’s perfectly legal.  This is what Aristotle saw as the major weakness of democracy.  We see it  played out every election year, and we are letting it happen!